Disruptions to Russian Energy Supply Likely to Weigh on European Output

Cook, Thomas R.; Lusompa, Amaze; Nie, Jun

Journal Article

Disruptions to Russian Energy Supply Likely to Weigh on European Output

Abstract: The Russia-Ukraine war and subsequent oil sanctions from European countries have substantially disrupted the supply of Russian oil and gas. We estimate the effects of these disruptions on European output and find that a decline in the Russian oil and gas supply in 2022 could lead to a sizable drop in European output over 2023–24, though the effect differs across countries and sectors .

Keywords: Oil; Russia; Ukraine;

JEL Classification: Q41; Q40;